Archive for December 2019
2020 Outlook: Medical is Still a Solid Bet for Retail Owners and Investors
In 2020, market savvy healthcare providers will continue their migration away from traditional medical campuses to retail centers and malls. The continuation of this trend is good news for commercial real estate owners and investors struggling with the brick and mortar retail bust. Benefits for Retail Owners Increased foot traffic: The number of year-round healthcare-related…
Read MoreIRS Waives Penalty for Taxpayers with At Least 80% of Total Tax Liability in 2018
On Jan. 16, 2019, the IRS released news of a penalty waiver that may benefit taxpayers whose 2018 federal tax payments fell short of the usual 90 percent of tax liability threshold required to avoid the underestimated payment penalty. This waiver is offered to taxpayers who paid at least 80 percent* of their total tax…
Read MoreIRS Tax Notices 6173, 6174, and 6174-A, What They Mean and What To Do.
Did you receive the IRS tax notice 6174, 6174A or 6173 in connection with your virtual currency transactions? If you had virtual currency transactions in any of the relevant tax years (2013 through 2017), you may have been one of the 10,000 taxpayers who received a tax notice letter from the IRS recently. If you…
Read MoreIRS Releases New Guidance on Taxability for Certain Virtual Currency Transactions
Pay close attention, cryptocurrency investors: on Oct. 9, 2019, the IRS issued Revenue Ruling 2019-24 and 43 Questions and Answers, the first new guidance since 2014 on the taxability for certain virtual currency transactions. While the Revenue Ruling focuses on how to treat hard forks and airdrops, the 43 Questions and Answers deal with a…
Read MoreIRS Aims to Expose Cryptocurrency-related Income with New Question on Form 1040
Earlier this month, the IRS released the first guidance in five years on the taxability for virtual currency transactions, including the Revenue Ruling 2019-24 and a FAQ document that both aimed to support and clarify the IRS’s position on how virtual currency should be treated for federal tax purposes. These two releases provided valuable insight…
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